VA Jumbo Loans
Fresno VA Jumbo Loans (aka VA High Balance Loans)
The Veterans Administration allows VA Loans up to $2,000,000 for 2023 for qualified Veterans with full VA entitlement available. The VA Home Loan can help Veterans utilize their VA benefit to purchase a home with an affordable, secure, Zero down VA Loan. Fresno Veterans are no longer limited to the VA County Loan limit, even for Veterans with partial VA Entitlement available (aka partial VA Entitlement, or a charge against VA Entitlement). Qualified Veterans and Active Duty Military with Full VA Entitlement available can get zero down VA Loans up to $2m. Qualified Veterans and Active Duty Military with partial VA Entitlement can purchase a home with a VA Loan up to $2m, however a down payment will be required to meet the minimum VA guaranty requirements. The amount of the down payment requirement is based on the VA county loan limit, the purchase price and your remaining VA Entitlement available.
The Standard VA Loan limit is $726,200 for most of the nation. In select areas approved by the VA, the loan limit is much higher. Fresno’s VA Loan Limit is $672,200 for 2023. Qualified Vets with full VA Entitlement available can qualify over $726,200 VA Loan Limit all the way to $2m with no money down for Fresno County homes and VA Approved Condos.
Why does the VA still publish a loan limit if there is no VA Loan Limit? Veterans with partial VA Entitlement available are still subject to the VA Loan Limit, but it is not a cap. We calculate your remaining Entitlement to give you either your 100% VA Financing maximum loan amount, or to calculate how much down payment you will need to make for a VA Loan that exceeds that Max VA Loan amount for your situation. Veterans with partial VA Entitlement can qualify up to $2m for VA Loans with the respective down payment for us to reach the VA’s required guaranty percentage.
Most VA Loans that exceed the VA County Loan Limit are called VA Jumbo or VA High Balance Loans.
Here are some of the benefits with VA Jumbo loans for Fresno Veterans:
- 100% VA Jumbo Purchase Loan up to $2m in Fresno for 2023 for qualified Vets with full VA entitlement available.
- Zero down payment required – over the Fresno 2023 VA Loan Limit of $726,200 – all the way to $2m for qualified Veterans with full VA entitlement available.
- Available up to $2.0M with down payment for Veterans with partial VA entitlement available.
- Can have a Non-Vet Co-borrower or even non-occupying co-borrower – call for details – down payment required.
- Closing costs are typically lower than conventional or FHA Loans
- NO PMI, MIP, or Mortgage Insurance
- No Prepayment Penalties
- Vets with a 10% or greater VA Disability Rating are Exempt from the VA Funding Fee
- Competitive fixed interest rates
- A Jumbo loans can be used to purchase Condo’s, Single Family Homes, Townhomes, PUD’s, & 2-4 Units
- You can exceed the county VA loan limits by contributing a down payment (usually smaller than what is required on conventional or FHA)
VA Jumbo Loans After Financial Hardship:
- VA Loans available in as little as 2 yrs after Bankruptcy Discharge
- VA Loans available in as little as 2 yrs after Foreclosure
- VA Loans available in as little as 2 yrs after Short Sale (or sooner – call us for details)
- VA Loans available after Short Sale’s without late payments with no waiting period
VA Jumbo IRRRL Streamline Refinance Info for Fresno:
- Fresno VA IRRRL Streamlines – available to lower your interest rate
- No income Verification, Credit Qualification, or Asset documentation required in most cases
- VA Jumbo IRRRL Streamline Refinances are available for Primary, Non-Owner, Investment, or Rental Homes
- Our VA Jumbo IRRRL Streamline Refinances are not limited to your County VA Loan Limit.
VA Loans do not require mortgage insurance, however the VA requires a funding fee to issue a VA Guarantee to insure against future VA borrower default on a mortgage. The VA Funding Fee can be Financed into the loan (typical) or paid in cash by the buyer or seller. Fresno Veterans with a 10% or higher VA Disability Rating are EXEMPT from the VA Funding Fee – please ask to see if you qualify.
VA Jumbo loans can be used in Fresno to buy a Home, refinance your home, buy a Condo, Combine a first and second mortgage, consolidate debts, or just lower your interest rate.
VA Loans do require a Certificate of Eligibility from the VA. This must be obtained to qualify for a VA loan. We can help you get your VA Certificate of Eligibility, just send us your DD-214 and we will help out.
Call us to get started on your VA Jumbo Loan, we can help you attain your VA Certificate of Eligibility and get Approved for your VA Loan. 866-900-2342 Toll Free Direct or Get Started Online here.